According to CoinMeta, traders are preparing for the expiration of options on Bitcoin worth approximately $6.44 billion, which will occur on Friday, August 28th, at 08:00 UTC. This expiration covers around 81,700 contracts, with each contract representing one Bitcoin. The current trading price of Bitcoin is about $78,970, which has fallen by about 1.4% in the past 24 hours but has risen by 22.9% over the past seven days. Among the expiring contracts, there are 44,639 call options and 37,061 put options, resulting in a put-to-call ratio of 0.83, indicating that the number of call options exceeds that of put options. Shaun Fernando, the Chief Risk Officer, stated that more than $500 million in notional value is within 5% of the current Bitcoin market price, and it is expected that this will lead to an increase in gamma hedging before expiration.